Memphis-based Adams Keegan founder and chairman takes reigns of National Association of Professional Employer Organizations and positions the industry to help small businesses weather the economy and healthcare debate.
Alexandria, VA (October 10, 2008) — Robert G. Adams, Chairman of the Board for Adams Keegan, Inc., has been elected President of the National Association of Professional Employer Organizations (NAPEO), the largest trade association for professional employer organizations nationwide with 400 member companies operating in all 50 states.
In his role as NAPEO President, Mr. Adams will work with the association's membership and staff to communicate the role of PEOs as a valuable employer service to the small business community, policymakers, regulators, and other key constituencies. Small and medium size businesses contract with a PEO to help manage complex employee related matters such as employee benefits, regulatory compliance, workers' compensation programs, payroll and tax, managing unemployment claims and providing expertise in human resources management.
Accepting the new position as NAPEO president, Mr. Adams said, "It was April of 1987 when I founded the company that is today known as Adams Keegan. In those 21 plus years I've witnessed huge changes and events in our industry. I've watched and participated as almost 75 percent of our states have acknowledged a regulatory framework for PEOs. I took pride as we developed our industry's own self regulating organization, the ESAC, which verifies for clients and regulators that participating companies comply with government regulations and important industry standards. In the current economy, PEOs provide small businesses access to affordable health care and retirement benefits for their employees and protect them from downturns by helping them focus on developing and running their business."
Mr. Adams set goals for the PEO industry to speak-up for small business owners as national healthcare discussions continue and reform nears. He is also seeking more stringent state statutes through the adoption of a standardized PEO act, which aims to provide additional security to the millions of small businesses who outsource human resource management, employee benefits, payroll and workers' compensation to a PEO.
The PEO industry has matured to $63 billion with double digit growth annually. As the PEO industry is set to enter its 25 year, the potential market remains promising with high client retention rates, a projected 20 percent increase in revenues for 2008 and the current untapped market now serving 2 to 3 million workers. PEOs allow clients to "reduce costs and free up time to devote to revenue generating activities, improvements that can be instrumental to gaining competitive advantage," according to research by the Society of Human Resource Management Foundation.
NAPEO, the National Association of Professional Employer Organizations, is the recognized "Voice of the PEO Industry®." NAPEO is the largest trade association for professional employer organizations nationwide. NAPEO has nearly 400 PEO members operating in all 50 states, representing approximately 90 percent of the revenues of the $63 billion industry. PEOs enable clients to cost-effectively outsource the management of human resources, employee benefits, payroll and workers’ compensation allowing clients to focus on their core competencies to maintain and grow their bottom line.